SAN JOSE, Calif. (AP) — SunPower projected adjusted earnings and revenue for its fiscal second-quarter and full-year revenue at levels above Wall Street’s forecasts.
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The stock climbed in premarket trading Wednesday.
SunPower foresees second-quarter adjusted earnings between 5 cents and 15 cents per share on revenue of $540 million to $590 million. Analysts surveyed by FactSet predict a loss of 2 cents per share on revenue of $513.6 million.
For the full year, the solar company expects adjusted earnings of 60 cents to 80 cents per share on revenue of $2.6 billion to $2.7 billion. Wall Street is looking for earnings of 65 cents per share on revenue of $2.58 billion.
SunPower said that it will give more details on its second-quarter and fiscal 2013 forecasts during its analyst day on Wednesday.
Shares of SunPower Corp. gained $1.12, or 5.9 percent, to $20.16 with about an hour to go before the market open.
